Published on 5/7/2019 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $1.07 million five-year market plus notes linked to S&P 500
By Marisa Wong
Morgantown, W.Va., May 7 – HSBC USA Inc. priced $1.07 million of 0% market plus notes due April 23, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event will occur if the final index level is less than the initial index level by more than 45%.
If a knock-out event has not occurred, the payout at maturity will be par plus the greater of zero and 113.1% of the index return. If a knock-out event has occurred, investors will lose 1% for every 1% that the final index level is less than the initial index level.
HSBC Securities (USA) Inc. is the agent with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents.
Issuer: | HSBC USA Inc.
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Issue: | Market plus notes
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Underlying index: | S&P 500
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Amount: | $1,073,000
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Maturity: | April 23, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus greater of 113.1% of index return and zero unless index falls by more than 45%, in which case exposure to index’s decline from initial level
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Initial level: | 2,905.03
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Final level: | Average of index’s closing levels on five trading days ending April 18, 2024
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Pricing date: | April 18
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Settlement date: | April 24
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Agent: | HSBC Securities (USA) Inc. with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents
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Fees: | 3%
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Cusip: | 40435ULT9
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